Cable TV industry backed television ad technology developer Canoe Ventures has served its 10 billionth ad impression into national TV programming, the company announced early this morning.
The milestone is significant for several reasons -- including the fact that many in the industry thought the company had become a lame duck since restructuring in February 2012, laying off most of its staff and essentially abandoning its attempts to develop an interactive TV advertising marketplace.
Instead, the company doubled down on developing an ad-serving marketplace to help advertisers and cable operators create liquidity around the vast array of unsold video-on-demand (VOD) inventory.
Currently, Canoe’s Dynamic Ad Insertion technology is active across an array of cable operators in more than 30 million digital cable TV households, inserting TV advertising into more than 50 broadcast and cable networks.
Canoe says another 70 networks currently are in the “on-boarding” process and should have dynamic ad insertion capabilities soon.“This volume comes from both returning marketers and new advertisers who are finding the quality of cable VOD a viable option in their media mix,” Canoe CEO Joel Hassell said in a statement announcing the 10 billionth ad served.